Oil prices plunged towards USD 70/barrel yesterday on profit taking and concerns over a slowdown in the US economy. Prices also went down in the carbon, gas and coal markets.
In London, Brent crude for September dived 3.58 dollars to settle at USD 71.17/barrel while the front month WTI contract in New York fell 3.42 to settle at USD 72.06/barrel.Worries that the credit turmoil could slow down the US economy contributed the downfall along with profit taking, as investors were said to liquidate their long positions in the market, Financial Times reports.
Dienstag, 7.08.2007, 07:58 Uhr
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